Saudia Aramco Energy Ventures's head pledges the Saudia Arabia-based energy company is looking to become "an integrated energy and chemicals company with greater energy efficiency and use of alternative energy."
Aramco, a Kingdom of Saudi Arabia-backed oil major, plans to start its corporate venturing unit in the third quarter to invest round the world in start-ups.
In a keynote presentation at the 14th Annual Corporate Venturing and Innovation Partnering conference presented by International Business Forum, Majid Mufti, head of Saudi Aramco Energy Ventures, said the corporate venturing unit would strike its first deals "soon", ie from September.
Though Aramco has already had some success with its internal venturing programme,…
